Santos sees drop in production
Santos (ASX:STO) saw a 7% drop in its oil and natural gas production in the first quarter of its 2024 financial year after its operations were disrupted by heavy rain and planned maintenance.
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Santos Limited
Santos is an Australian energy pioneer. We have safely and sustainably discovered, developed and delivered natural gas to the people of Australia and Asia for more than 60 years.
With origins in the Cooper Basin, Santos has one of the largest exploration and production acreages in Australia and extensive infrastructure. Our strategy is centred on five core, long-life natural gas and LNG assets. These assets support our aim to be a leading Australian domestic gas supplier and a major LNG exporter supplying clean energy to Asia.
As an Australian owned and operated business, we work in partnership with local communities, governments and our business partners to make natural gas an affordable and reliable energy solution for all Australians.
Spotlight Videos
Santos, Platinum, Pirelli, and the takeover offer for Link
Fund Manager Chris Pedersen discusses Santos, Platinum Asset Management, Pirelli and Link Administration Holdings.
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News
Relief as Woodside-Santos merger falls through
The mooted merger between Woodside (ASX:WDS) and Santos (ASX:STO) was abandoned yesterday, eliciting relief more than anything else.
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Woodside abandons $70 billion Santos merger
The marriage between Woodside (ASX:WDS) and Santos (ASX:STO) was called off just before midday on Wednesday.
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Federal Court rules in favour of Santos
In a significant legal victory for energy giant Santos, the Federal Court has ruled in favour of the company, allowing it to proceed with the construction of a crucial undersea pipeline essential to its $US4.3 billion Barossa gas project.
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Santos, Platinum, Pirelli, and the takeover offer for Link
Fund Manager Chris Pedersen discusses Santos, Platinum Asset Management, Pirelli and Link Administration Holdings.
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Analyst Views
STO – Morgans rates the stock as Add
Morgans maintains its Add rating and suggests a large share price discount still exists with the potential for many positive catalysts in 2022. The target price rises to $9.15 from $8.65.
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STO – UBS rates the stock as Buy
Barossa has achieved a final investment decision which de-risks the project. Santos has an agreement to sell 25% of Darwin LNG and Bayu-Undan on achieving FID at Barossa. UBS retains a Buy rating and raises the target to $8.35 from $8.20.
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STO – UBS rates the stock as Buy
UBS lifts Brent oil price forecast for 2021 to US$65.50/bbl, from US$57/bbl, and 2022 to US$62/bbl from US$60/bbl. Santos remains the preferred exposure across the energy sector with short-term growth catalysts. Buy rating retained. Target is raised to $8.20 from $7.90.
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